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Press Release

Middlefield Healthcare & Life Sciences Dividend Fund IPO Raises $103 Million

Middlefield Healthcare & Life Sciences Dividend Fund
Posted on: 18 Aug 17
Middlefield Healthcare & Life Sciences Dividend Fund IPO Raises $103 Million

Canada NewsWire

CALGARY, Aug. 18, 2017


CALGARY, Aug. 18, 2017 /CNW/ - Middlefield Group, on behalf of Middlefield Healthcare & Life Sciences Dividend Fund (the "Fund"), is pleased to announce that it completed the issuance of an additional 120,000 units pursuant to the over-allotment option granted to the agents in the Fund's recently completed initial public offering. In aggregate, the Fund has raised gross proceeds of $103,200,000.

The Fund's investment objectives are to provide holders of units with:

(i)  stable monthly cash distributions, and

(ii) enhanced long-term total return through capital appreciation of the Fund's investment portfolio.

The Fund's investment strategy will focus primarily on investing in dividend-paying securities of issuers operating in, or that derive a significant portion of their revenue or earnings from, products or services related to the healthcare, life sciences and related industries.

The initial target distribution yield for the Fund is 5% per annum based on the original subscription price (or $0.04167 per unit per month or $0.50 per unit per annum).

Middlefield Capital Corporation, the advisor, will provide investment management advice to the Fund. SSR LLC, an investment research firm based in Stamford, Connecticut, will act as an industry advisor to Middlefield and in such capacity will provide ongoing analysis regarding the global healthcare and life sciences sector.

The syndicate of agents was co-led by CIBC and RBC Capital Markets, and included BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., National Bank Financial Inc., Raymond James Ltd., Manulife Securities Incorporated, Echelon Wealth Partners Inc., Mackie Research Capital Corporation and Middlefield Capital Corporation.

This offering was only made by prospectus.  The prospectus contains important detailed information about the securities being offered.  Copies of the prospectus may be obtained from your IIROC registered financial advisor using the contact information for such advisor.  Investors should read the prospectus before making an investment decision.

SOURCE Middlefield Healthcare & Life Sciences Dividend Fund

PR Newswire

Last updated on: 18/08/2017

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